basic
Presentation
•
Social Studies
•
10th Grade
•
Hard
Anu KAU
FREE Resource
5 Slides • 2 Questions
1
An introduction to basic economics
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What is economics?
Economics -Social science concerned with the efficient use of limited resources to achieve maximum satisfaction of economic wants.
3
What is Economics in General?
Economics is the science of scarcity. • Scarcity is the condition in which our wants are greater than our limited resources.
• Since we are unable to have everything we desire, we must make choices on how we will use our resources.
• In economics we will study the choices of individuals, firms, and governments.
4
Multiple Choice
Study of small economic units such as individuals, firms, and industries (competitive markets, labor markets, personal decision making, etc.)
Microeconomics
Macroeconomics
5
Open Ended
Who is the Father of economics?
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7
An introduction to basic economics
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